Citizen Portal
Sign In

Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows

Get Lifetime Access

Grimes City sells $14.69M of GO bonds; Hilltop Securities selected as winning bidder

Grimes City Council · April 16, 2026

Loading...

AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

The council approved Resolution 04-3126 authorizing the sale of $14,690,000 in general-obligation bonds; staff reported Hilltop Securities (Dallas) won the bid at a true-interest cost of about 3.4489%, and proceeds will finance city infrastructure and facility projects.

The Grimes City Council on April 14 authorized the sale of $14,690,000 in general-obligation corporate-purpose bonds and approved acceptance of the winning bid.

Finance staff Marcia said the city took bids at 10 a.m., received competitive proposals and the true-interest cost (TIC) range was approximately 3.4489% to 3.5855%. She reported that Hilltop Securities of Dallas was the recommended winner with a TIC of 3.4489 and provided the purchase-price and net-interest-cost figures as presented to council. "The winner was Hilltop Securities out of Dallas, Texas," Marcia said. Moody's affirmed the city's AA2 rating; staff and the city's financial advisor recommended taking the Hilltop bid.

Marcia said the bonds will finance portions of the city administration building, 37th Street improvements (including sidewalks and overlays), fiber upgrades, park and trail improvements and other listed capital projects. The council moved and approved Resolution 04-3126 by roll call.

Council members thanked staff for the competitive pricing and noted the city's credit rating supported favorable results. Staff will proceed with closing and use bond proceeds for the listed capital projects.